- A quiet day for FX markets with all majors and crosses staying well within their typical daily ranges. AUD and GBP are currently the strongest majors, CAD is the weakest.
- AUD/USD briefly touched a 2-month high, USD/CAD appears set to extend its decline, WTI’s minor rebound has stalled below $58 and gold appears steady around $1420 after a minor bearish day yesterday.
- Bitcoin surged early Asia, putting up for debate as to whether the corrective low is truly in.
- US-China trade talks are to resume next week, according to US officials.
- Equities moves higher after a strong lead form Wall Street which saw all three major indices close to record highs. The ASX200 broke out of a bullish flag pattern and above 6,700.
- It’s mostly 2nd and 3rd tier data, although ECB’s chief economist Philip Lane speaks at 7am GMT, and ECB vice president at 09:10 GMT.
- Volumes are expected to be much lighter in the US session due to Independence day. However, volatility can pick up in lower liquidity environments if something major were to occur (whether it be news driven or a bot-driven flash-crash).
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.